Comex Trading Signals and Market News – 30 March 2016


  • Gold prices fell by 0.06 per cent on Tuesday in the midst of speculation the Federal Reserve could give serious consideration to a rate hike at its April meeting boosting the US dollar.Federal Reserve Bank of San Francisco President John Williams reiterated that rate hikes this year are expected if data trends continue to show sold US economic growth.
  • Crude oil prices dropped by 0.46 per cent on Tuesday with US industry data ahead on stockpiles. The American Petroleum Institute will release its estimates of crude gasoline and distillates stocks late Tuesday. That will be followed by more closely-watched data from the US Department of Energy.
  • Natural Gas futures jumped by nearly 2 per cent in the domestic market on Monday tracking a bullish trend in the overseas market as investors and speculators booked fresh positions in the energy commodity amid expectations for gas-fired heating and cooling demand across parts of the US in the coming weeks.


  •  The Bank of England said on Tuesday that risks around Britain’s referendum on the European Union could push up borrowing costs and weaken sterling, and tightened rules for mortgage lending to landlords. The central bank said the outlook for financial stability had worsened since its last quarterly report in November, and also moved ahead with plans to require some banks to hold extra capital as lending growth started to pick up.
  • Japan’s parliament approved on Tuesday a record 96.72 trillion yen ($851.5 billion) state budget for fiscal 2016, paving the way for a fully-fledged debate on additional stimulus spending to spur the flagging economy. Prime Minister Shinzo Abe seeks to front-load spending for the annual budget for the coming fiscal year from April and to adopt a fresh extra budget, while speculation is rife that he may again delay a sales tax increase planned for April 2017.
  • John Williams, president of the San Francisco Fed, stated that the U.S. economy was in good shape with global risks abating and reiterated that future rate hikes by the U.S. central bank would be gradual. In a speech given Tuesday in Singapore, Williams commented that “things are looking very good” with regard to U.S. employment and said that he expects the jobless rate to continue to edge down.


  • BUY GOLD ABOVE 1224 TARGET 1229 1235 SL BELOW 1219
  • SELL GOLD BELOW 1215 TARGET 1210 1204 SL ABOVE 1220

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